GR Infraprojects share price rises over 10% on ₹4,263 crore Agra‐Gwalior highway project win

The stock climbed 10.40% to ₹1,038.45 apiece on the National Stock Exchange (NSE) during the early trades. The scrip settled at ₹1,008.00 apiece, gaining 7.16%.

The construction of the Agra‐Gwalior Greenfield Road includes the development of six lanes of access-controlled Agra‐Gwalior greenfield highway, starting from Deori village in Uttar Pradesh's Agra to Susera village in Madhya Pradesh's Gwalior district.

Section two of the project is "overlay/strengthening, other road safety and improvement works on existing Agra‐ Gwalior section from 1058.00 to 1148.00 (Design chainage 13.00 to 103.00) of NH‐ 44 in the State of Uttar Pradesh, Rajasthan and Madhya Pradesh on DBFOT pattern at BOT (Toll) Mode under NH(O) scheme."

The project needs to be completed in 910 days from the appointment date, the company said in an exchange filing.

Last month, the company entered into a memorandum of understanding (MoU) with the Government of Assam for the establishment of the development of a ropeway project from Sonaram Field to Bhubaneshwari Temple, Kamakhya in Guwahati.

"According to this MoU, the Government of Assam will facilitate GR Infraprojects Limited in the development of the ropeway by assisting in obtaining all necessary permissions, registrations, approvals, and clearances from the concerned departments, agencies, and authorities of the state, in accordance with the existing policies, rules, and regulations," the company said.

The project is worth ₹270 crore, the company said in a regulatory filing.

In the third quarter of the financial year 2024-25, GR Infraprojects reported a 7.8% increase in its net profit to ₹261.7 crore, as compared to a ₹242.7 crore post-tax profit in the same quarter the previous fiscal.

Revenue from operations stood at ₹1,694.5 crore in the latest December quarter, reflecting a decline of 20.6% from ₹2,134 crore in Q3 FY24.